Encryption Management Solutions Market Predicted to Achieve Remarkable Growth of USD 41.44 billion by 2029

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Data Bridge Market Research analyses that the encryption management solutions market was valued at USD 12.64 billion in 2021 and is expected to reach the value of USD 41.44 billion by 2029, at a CAGR of 16.00% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

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Some of the Leading Key companies Covered for this Research are:

Hewlett Packard Enterprise Development L.P. (U.S.)
IBM Corporation (U.S.)
Amazon.com, Inc. (U.S.)
Gemalto NV (Netherland)
RSA Security LLC (U.S.)
Thales. (France)
Sun Microsystems, Inc. (U.S)
VirtuCrypt (U.S)
Venafi, Inc (U.S.)
Oracle (U.S.)
Cisco Systems, Inc. (U.S.)
Dell Inc. (U.S.)
McAfee, LLC. (U.S.)
Trend Micro Incorporated (U.S.)
Sophos Ltd. (U.K.)
CommScope, Inc. (U.S.)
Broadcom (U.S.)
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Key Market Segmentation

On the basis of deployment, market has been segmented into cloud and on-premises.

On the basis of application, market has been segmented into endpoint encryption, network encryption, database encryption, and cloud encryption.

Restaurant POS software has also been segmented on the basis of end user into banking, financial services and insurance (BFSI), healthcare, government, retail, IT and telecom.

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Drivers

Growing adoption of digitization across various industries
The growing demand for digitalization is significantly driving the growth of the encryption management solutions market. Several industries, including consumer goods, healthcare, manufacturing, and retail, are increasing their use of digitalization around the world. Due to digitalization, industries' IT resources are vulnerable to cyberattacks. As a result of the increasing adoption of digitalization, there is a greater demand for encryption management solutions that can be used as tools to prevent cyberattacks.

Growth of IOT services and increasing penetration of 5G technology
The rising demand for IoT services is the primary market trend driving the encryption management solutions market growth. The market is expected to grow during the forecast period due to the increasing penetration of IoT devices and the evolution of 5G technology.

Personal data collection by businesses will increase as a result of technological innovations such as IoT, as the number of connected devices explodes in the coming years. As a result, governments around the world are focusing on enacting stricter data protection legislation. During the forecast period, these factors will drive up demand for encryption management solutions even more.

Encryption Management Solutions Market Scope

Deployment

Cloud
On-premise
End User

Banking
Financial Services and Insurance (BFSI)
Healthcare
Government
Retail
IT
Telecom
Application

Endpoint Encryption
Network Encryption
Database Encryption
Cloud Encryption
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